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. >> at least steve is. we've sent him down there to cover the situation on the ground and the's remarkable because we knew heading into the budget today that we might get some unrest, but i think it survived everyone how soon it began and the scale to which it has spread. speaking of which, protesters gathering in madrid raised their call for the spanish government to resign. demonstrators again clashed with police, which left 64 injured and led to 38 arrests. prime minister rajoy's reforms have proved deeply unpopular. out to steve sedgwick now who is following the story. steve, are we expecting the intensity of the protests to increase? >> i don't think we are. they've made their point in some cases violently. this is another protest scheduled for saturday evening. just have a look at what's going on in the sxaexact area. this is the neptune fountain, this is the heart of the madrid heart and we have the five star hotel that kelly i'm sure you've stayed at many a times. and this is the area which leads up
. >> at least steve is. we've sent him down there to cover the situation on the ground and the's remarkable because we knew heading into the budget today that we might get some unrest, but i think it survived everyone how soon it began and the scale to which it has spread. speaking of which, protesters gathering in madrid raised their call for the spanish government to resign. demonstrators again clashed with police, which left 64 injured and led to 38 arrests. prime minister rajoy's...
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Sep 28, 2012
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would steve jobs have done that? we'll look at that coming up. >>> then, if a body is found buried in your front yard, will you move out? maybe not if it's the long lost body of jimmy hoffa. could make that home a landmark. that and more coming up on the "closing bell." stay with us. >>> certainly it was a solid third quarter for the stock market, but then you look at energy prices and how they fared. that's a different story. >> yeah, you know, if you look at oil prices here, crude prices are still down today, but what a quarter it has been. all the worries about the tensions between iran and israel with those iran sanctions going into effect at the beginning of this quarter also helping to boost. the big story this quarter, and certainly today, has been gasoline. despite the fact that normally we see prices starting to come down during this quarter, they have actually ratcheted up the best quarter we've seen in years. today we had a huge explosive short move at the end of the day, maria, that really, really punctua
would steve jobs have done that? we'll look at that coming up. >>> then, if a body is found buried in your front yard, will you move out? maybe not if it's the long lost body of jimmy hoffa. could make that home a landmark. that and more coming up on the "closing bell." stay with us. >>> certainly it was a solid third quarter for the stock market, but then you look at energy prices and how they fared. that's a different story. >> yeah, you know, if you look at...
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Sep 28, 2012
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got to diffuse it, steve. thank you very your thoughts. >>> new york city apparently isn't in financial ruin. the city, in fact, is shelling out $230 million to build, ta-da, the world's largest ferris wheel. you're looking at an artist's rendering of the proposed 625-foot structure. the ferris wheel would stand taller than the london eye and also the one in singapore, which is the current record holder. construction is slated to begin in the next year and a half. so in 2015 we will be lining up for the ferris wheel. >> i can't wait. >>> all right. one year ago lenny kravitz was doing this. yeah, he was rocking the crowd on national tv on the "today" show. you'll not believe where lenny it performing now. i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructur
got to diffuse it, steve. thank you very your thoughts. >>> new york city apparently isn't in financial ruin. the city, in fact, is shelling out $230 million to build, ta-da, the world's largest ferris wheel. you're looking at an artist's rendering of the proposed 625-foot structure. the ferris wheel would stand taller than the london eye and also the one in singapore, which is the current record holder. construction is slated to begin in the next year and a half. so in 2015 we will be...
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senior economics reporter steve liesman joins us to break it all down. durable goods, orderer were awful, horrendous, jobless claims improved, though. >> you know, i have a theory, michelle. and i think these guys to my left and on the screen over there are waiting for more specific signals from me and the economic data before they figure out -- if you think about the five down days we've had, it's down like 1.9. it's essentially a sideways move. up 46, you said highs of the day. i don't think anybody here is jumping out of the chair. that's because the signals are really mixed. take a look at the data. the gdp with durable goods down 13%. don't get too excited about that. a lot of that was aircraft orders. second quarter gdp down by 14%. midwest manufacturering, claims, though, went down 26,000 and the payroll revisions, that's through march of 2012. up by 386,000. so a little stronger employment in our rearview mirror and current. so the jobs are doing okay, i guess, is the best way to say. where gdp is weak -- >> hold on one second. can we bring up th
senior economics reporter steve liesman joins us to break it all down. durable goods, orderer were awful, horrendous, jobless claims improved, though. >> you know, i have a theory, michelle. and i think these guys to my left and on the screen over there are waiting for more specific signals from me and the economic data before they figure out -- if you think about the five down days we've had, it's down like 1.9. it's essentially a sideways move. up 46, you said highs of the day. i don't...
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Sep 26, 2012
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steve? spvmt. >> m.o. >> got it. >> long, starbucks. still think there is upside here. it's had a nice rally. >> i wasn't married to tammy faye baker. >> thankfully. abbott labs. >> potash. >> "power lunch "starts now. >> announcer: halftime is over. the second half of the trading day begins now. >> indeed. we are keeping an eye on a series of live events the markets will be watching closely. right now in madrid, a call for a second day of strikes after yesterday's violent protes against austerity measures. greece erupted this morning. why now and where do the markets and countries go from here? both canada dadidates for presi are duelling in ohio. both set to start four minute
steve? spvmt. >> m.o. >> got it. >> long, starbucks. still think there is upside here. it's had a nice rally. >> i wasn't married to tammy faye baker. >> thankfully. abbott labs. >> potash. >> "power lunch "starts now. >> announcer: halftime is over. the second half of the trading day begins now. >> indeed. we are keeping an eye on a series of live events the markets will be watching closely. right now in madrid, a call for a...
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steve, perhaps you can kick it off for us. what do you think tonight holds? >> you know, here's what barack obama has to do. the debate right now in the campaign is very heavily over economic policy going forward. that's where barack obama wants to focus. he will accuse mitt romney of seeking $4 trillion, $5 trillion in additional tax cuts for the wealthy while raising taxes on the middle class. there will be a lot of talk about that because mitt romney disputes that he would be cutting taxes -- excuse me, raising taxes on the middle class. at the same time, he's challenged. obama's challenge is not to be too cocky. with good reason, he gets cocky sometimes. he's got to be careful that he doesn't is a moment like he had in the new hampshire debate in 2008 where he said hillary is likable enough. he has to avoid that kind of characteristic. mitt romney, on the other hand, what mitt has to do is prove that he's a human being, that he's a tin man who has found a heart, who cares about people other than his social class. and secondly, he has to put barack obama o
steve, perhaps you can kick it off for us. what do you think tonight holds? >> you know, here's what barack obama has to do. the debate right now in the campaign is very heavily over economic policy going forward. that's where barack obama wants to focus. he will accuse mitt romney of seeking $4 trillion, $5 trillion in additional tax cuts for the wealthy while raising taxes on the middle class. there will be a lot of talk about that because mitt romney disputes that he would be cutting...
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Sep 28, 2012
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let's bring in steve leaseman. not a lot of big surprises here. >> the market reaction might be a surprise. how many times have you and i been here with europeans disclosing what they say is the final final accounting and nobody believes them. so it's very early to say. but the question has to be asked on this discussion, in my opinion. are we at a point where the market might finally begin to disclosures of a european bank supervisor that now we're accounting for it? there's two parts to the equation. we have a means for making it up. fascinating article. europe needs to have a bank bailout like we had in the u.s. get the banking system going again, you need to plug it with public money. so the question becomes, and i know this is early, but it's what you have to figure out. does the market believe this number, this process? which by the way, was done by an independent consultant and it's something they can stand behind that puts the totality of the problem outdomain. >> acknowledging you have a problem is the fir
let's bring in steve leaseman. not a lot of big surprises here. >> the market reaction might be a surprise. how many times have you and i been here with europeans disclosing what they say is the final final accounting and nobody believes them. so it's very early to say. but the question has to be asked on this discussion, in my opinion. are we at a point where the market might finally begin to disclosures of a european bank supervisor that now we're accounting for it? there's two parts to...
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Sep 26, 2012
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on the fundamental side, steve cortez. good to have you on the program. thank you so much for joining us today. ennis, let's talk charts. which stock looks better? >> so let's look at barnes & noble first. normally i like to buy strength and sell weaknesses. barnes & noble over the last four years has been between $10 and $25. $10 has been strong support. book value is around $12. i think this is an important support level. i expect barnes & noble to bounce off of that important $10 support area. in contrast, amazon, i think, is at an entry point that's much more dangerous. amazon has been in a much stronger four-year up trend. the four-year chart of amazon from 2008 to 2012 is basically a great bull market. >> good looking chart. >> very good looking chart. normally i'd like this. in the last year, it really has encountered resistance at 250. i think this is a much riskier entry than barnes & noble. >> so you're not of the belief that when a chart is looking this good that it continues to go up. >> normally i do like to buy strength and sell weakness. in
on the fundamental side, steve cortez. good to have you on the program. thank you so much for joining us today. ennis, let's talk charts. which stock looks better? >> so let's look at barnes & noble first. normally i like to buy strength and sell weaknesses. barnes & noble over the last four years has been between $10 and $25. $10 has been strong support. book value is around $12. i think this is an important support level. i expect barnes & noble to bounce off of that...
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Oct 2, 2012
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today, she is steve liesman's special guest. steve? >> tyler, thanks very much. she has been called america's top financial diplomat and is a special guest at a fortune magazine most powerful women conference in california. lael brainard joins us now. welcome to "power lunch," lael. >> it's a pleasure to be here. >> let's talk what tyler was talking about, this issue of spain and the question of whether or not it's going to ask for aid and trigger that ecb program. is it your opinion, the opinion of the u.s., that the europeans are following through on their latest set of commitments when it comes to solving their financial crisis? >> well, you're right, they've made a series of very important commitments over the course of the summer and into the fall. they are much better prepared. they have a set of tools that can help governments like spain continue to access the markets at affordable rates while they continue making these very challenging reforms. we have seen a number of developments in spain in recent days. we have seen a budget come out that continues to
today, she is steve liesman's special guest. steve? >> tyler, thanks very much. she has been called america's top financial diplomat and is a special guest at a fortune magazine most powerful women conference in california. lael brainard joins us now. welcome to "power lunch," lael. >> it's a pleasure to be here. >> let's talk what tyler was talking about, this issue of spain and the question of whether or not it's going to ask for aid and trigger that ecb program....
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steve, thank you. you haven't got a light, have you, steve? >> no, do you want me to go get you a pack of panama? what was those cigarettes you used to smoke? >> i think this is -- i don't think i can say what this is. >> he already has a cigar over here. >> steve doesn't have a return feed. >> last time i had one of those with was our dear friend guy johnson and it didn't end prettily. >> rarely does. steve, thanks very much indeed for that. i'm now not going to get reelected holding one of those up. i'm not running so it doesn't really matter. talking about our politicians, i won der if pierce stein brooke smokes in public. likely to be the german social leadership candidacy for the chancellor ship. well keep our eyes on any reaction to that. >> a drunk trader has been blamed for an oil price spike of more than $1.50 a barrel back in june 2009. steefr p steve perkins allegedly spent $520 million on oils futures contracts while intoxicated. he's been fined 72,000 pounds as a result and been suspended for five years. the fine pails in comparis
steve, thank you. you haven't got a light, have you, steve? >> no, do you want me to go get you a pack of panama? what was those cigarettes you used to smoke? >> i think this is -- i don't think i can say what this is. >> he already has a cigar over here. >> steve doesn't have a return feed. >> last time i had one of those with was our dear friend guy johnson and it didn't end prettily. >> rarely does. steve, thanks very much indeed for that. i'm now not...
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. >> hold on one second, steve. can we bring up this chart? the s&p and the dow? something just happened. i don't know what it is. we've had a sharp move. >> was the news out of spain really that good? how should you be setting up for q 4. the traders are pulling out all the stops to find your trade. >> hold on, steve. >> karen is hitting the mall for a retail bargain while josh has his eye on the trades. fresh off the trading floor, this is ""fast money.""
. >> hold on one second, steve. can we bring up this chart? the s&p and the dow? something just happened. i don't know what it is. we've had a sharp move. >> was the news out of spain really that good? how should you be setting up for q 4. the traders are pulling out all the stops to find your trade. >> hold on, steve. >> karen is hitting the mall for a retail bargain while josh has his eye on the trades. fresh off the trading floor, this is ""fast...
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back to you. >> steve, thank you very much. oil taking a tumble. just how low can it go? how low can stocks go? your next guest says to get ready for a big drop soon. later, the doug flutie tech trade. three companies throwing hail mary passes. who will score and who will drop the ball? that's coming up. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ ♪ [ male announcer ] introducing a stunning work of technology. introducing the entirely new lexus es. and the first-ever es hybrid. this is the pursuit of perfection. for over 60,000 california foster children, extra curricular activities help provide a sense of identity and a path to success. joining the soccer team. getting help with math. going
back to you. >> steve, thank you very much. oil taking a tumble. just how low can it go? how low can stocks go? your next guest says to get ready for a big drop soon. later, the doug flutie tech trade. three companies throwing hail mary passes. who will score and who will drop the ball? that's coming up. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations...
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sunday after the half marathon that we're doing with steve. >> fantastic. there you go. thank you very much. >> and rod the director. >> that's right. >> i'm slightly -- i'm a little gummed up in my ear. there we go. who is directing this is this over in south korea, the possibility of another rate cut next week is rising. here's more from seoul. hi rhie. >> hey, there, ross. september consumer price rose 2%, well below the target of 3%. so despite higher prices for oil and things like vegetables after the typhoon last month, inflation a not a major concern here. what is, though, are yesterday's september which poexport figure. exports fell for the third straight month. as of today we saw factory output levels softest since early 2009. all of this build as case for the bank of korea to cut rates by 25 basis points and they in fact said they will switch over priorities from price stability to encouraging growth. after such a clear signal here next week's balancing act shouldn't be too difficult for the policymakers here. back over to you. >> thanks for that. still to come
sunday after the half marathon that we're doing with steve. >> fantastic. there you go. thank you very much. >> and rod the director. >> that's right. >> i'm slightly -- i'm a little gummed up in my ear. there we go. who is directing this is this over in south korea, the possibility of another rate cut next week is rising. here's more from seoul. hi rhie. >> hey, there, ross. september consumer price rose 2%, well below the target of 3%. so despite higher prices...
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let's bring in rick santelli and steve liesman. steve, first to you. i say the fed is practicing trickle-down economics. what say you? >> i say you can't have it both ways. my good friend and colleague rick santelli's going to complain that the federal reserve has really hurt savers in this world today, right? okay. so who are the opposite of savers? borrowers. if you're helping savers, you can't be -- you have to be hurting borrowers. so it's actually the other way around. they're hurting savers. they're hurting people who are clipping a coupon. >> no, no, no. if my mortgage is 3,000 a month, right? and then i refi and now it's $2,600 a month or whatever it is. >> right. >> the fed is hoping i take that 400 i've just saved -- >> right. >> -- and exchange it for goods and services that i reckon will at some point trickle down through more moving or whatever. that, my friend, is trickle-down economics. >> but what if your mortgage is $1,000 a month and you just saved $200 a month? you've just helped you who's saving $200 a month. what's wrong with that?
let's bring in rick santelli and steve liesman. steve, first to you. i say the fed is practicing trickle-down economics. what say you? >> i say you can't have it both ways. my good friend and colleague rick santelli's going to complain that the federal reserve has really hurt savers in this world today, right? okay. so who are the opposite of savers? borrowers. if you're helping savers, you can't be -- you have to be hurting borrowers. so it's actually the other way around. they're...
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one of the largest lenders on the hot seat. >>> and would steve jobs approve of the way ceo steve cook apologized for the so-called mapple gate? much more "squawk on the street." i'm bara ck o bama and i approve i'm bara this message. ck o romney: "it's time to stand up to the cheaters" vo: tough on china? not mitt romney. when a flood of chinese tires threatened a thousand american jobs... it was president obama who stood up to china and protected american workers. mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. when you take a closer look... ...at the
one of the largest lenders on the hot seat. >>> and would steve jobs approve of the way ceo steve cook apologized for the so-called mapple gate? much more "squawk on the street." i'm bara ck o bama and i approve i'm bara this message. ck o romney: "it's time to stand up to the cheaters" vo: tough on china? not mitt romney. when a flood of chinese tires threatened a thousand american jobs... it was president obama who stood up to china and protected american workers....
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it's steve mostin. 2.2 puts him as the top donor. that's more than one-tenth of the amount. now, he's a trial lawyer in houston. he made a fortune from hurricane lawsuits. he's opposed, no surprise, to tort reform and caps on jury awards. he's going head to head with fellow texan romney supporter bob perry. he's the number two romney donor. he helped fund a group that distributed a flyer attacking mostyn. he fought back with a anti-perry website. seems that even the donors now are behaving more like the politicians that they support. back to you. >> pretty amazing, robert. you know, money has been talking. it's not just for the presidential candidates, right? you're also seeing money talk for, you know, changes in the house and senate. >> yeah, and, you know, the amount of money in this election, this will be by far the most expensive election ever. the unlimited amount that people can now spend, you know, whether this makes a big difference -- if romney loses, people will say super pacs didn't make a difference. if he wins, they'll say it was a deciding factor. i think the
it's steve mostin. 2.2 puts him as the top donor. that's more than one-tenth of the amount. now, he's a trial lawyer in houston. he made a fortune from hurricane lawsuits. he's opposed, no surprise, to tort reform and caps on jury awards. he's going head to head with fellow texan romney supporter bob perry. he's the number two romney donor. he helped fund a group that distributed a flyer attacking mostyn. he fought back with a anti-perry website. seems that even the donors now are behaving more...
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. >> steve is making the point here with the three days of declines prior to today that apple stock actually factored in those supply disruptions already. >> no doubt about it. supply disruptions, we knew that this was going to be a big ramp and they were launching it out in a lot of other areas than they had in the past. they needed a lot more products. the demand will be there. at the end of the day i think the focus is going to be on how much an upgrade this is. people who bought the 4s last year, how much of an upgrade is this. the expectations got out of control heading into this opening weekend. >> right. >> to testimonier the expectations going into the holiday season. >> you can probably -- on a relative basis to other analysts on street, maybe steve milanovich is a bear. he's still optimistic about apple in general, when i asked him about lowering the shipments by 6 million, i asked if that would be simply booked in the next quarter. he said not necessarily. but there is a risk, he believes, that those people do actually go to a samsung product. >> i suppose there is a risk for sure
. >> steve is making the point here with the three days of declines prior to today that apple stock actually factored in those supply disruptions already. >> no doubt about it. supply disruptions, we knew that this was going to be a big ramp and they were launching it out in a lot of other areas than they had in the past. they needed a lot more products. the demand will be there. at the end of the day i think the focus is going to be on how much an upgrade this is. people who bought...
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steve, how about some of the hits, runs, and errors from those feds minutes? it didn't move the markets to any great degree today. >> i think we knew where people stood. the voting members are more or less in favor of the policy that came out, which was the one, the open-ended quantitative easing. the non-voters, there are more objections there. that's where more of the hawks are in the current rotation of the fomc. i don't think we learned anything new about there being a bigger or wider split when it comes to the new policy out there. they do have work to do, guys. they're working on the calendar date guidance. they're working on a whole bunch of other stuff that's out there. for example, the fomc individual interest rate forecast, and i think the way maria led into this, that we need new information, that's absolutely true because we don't know what happens in january. it's unclear how to calibrate the incoming economic data with what the fed is going to do in january. >> yeah, so we still have a fair amount of uncertainties on the table. yet, a little more
steve, how about some of the hits, runs, and errors from those feds minutes? it didn't move the markets to any great degree today. >> i think we knew where people stood. the voting members are more or less in favor of the policy that came out, which was the one, the open-ended quantitative easing. the non-voters, there are more objections there. that's where more of the hawks are in the current rotation of the fomc. i don't think we learned anything new about there being a bigger or wider...
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also steve jobs as you have never seen him before. you'll see what we're talking about right after this. as we head to break look at this morning's early movers on wall street. now, that's what i call a test drive. silverado! the most dependable, longest lasting, full-size pickups on the road. so, what do you think? [ engine revs ] i'll take it. [ male announcer ] it's chevy truck month. now during chevy truck month, get 0% apr financing for 60 months or trade up to get the 2012 chevy silverado all-star edition with a total value of $8,000. hurry in before they're all gone! with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. take a look at the data feedback. i
also steve jobs as you have never seen him before. you'll see what we're talking about right after this. as we head to break look at this morning's early movers on wall street. now, that's what i call a test drive. silverado! the most dependable, longest lasting, full-size pickups on the road. so, what do you think? [ engine revs ] i'll take it. [ male announcer ] it's chevy truck month. now during chevy truck month, get 0% apr financing for 60 months or trade up to get the 2012 chevy silverado...
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steve is a technology strategist at ubs, a buy rating on apple and a $780 price target which steve is on the low end of street consensus, actually. and this morning you were voicing some concerns based on channel checks with skyworks and some others about the supply of components. and you say that will actually decrease the number of units sold in the zm quadecember quar. >> well, that's right. my colleagues and i believe there may be constraints on the iphone 5 near term. we're looking for 38 million phones to be shipped in the december quarter. we were at 44 million. our sense is that probably due to the touch display, it's going to be difficult for apple to ship more than, say, 40 million or so. so we're taking a built of a conservative attack here. it's very much a supply issue. it's not a demand issue. we continue to think the stock should rise over the next 12 months. >> we have seen the stock decline ever since the first weekend of sales of iphone 5 as there are more concerns that perhaps they're not able to meet the demand out there. do you think that the stock has accurately
steve is a technology strategist at ubs, a buy rating on apple and a $780 price target which steve is on the low end of street consensus, actually. and this morning you were voicing some concerns based on channel checks with skyworks and some others about the supply of components. and you say that will actually decrease the number of units sold in the zm quadecember quar. >> well, that's right. my colleagues and i believe there may be constraints on the iphone 5 near term. we're looking...
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i earlier said steve jobs would never apologize. in fact steve jobs apologized in the past. five years ago he apologized when he cut the price of the iphone back then $200 after it had only been out a few months. he apologized to the original buyers. apologies from the ceo at apple are not completely unheard of. >> what do you think, rob snert. >> my favorite tweet that's been out there. if you've ordered an iphone 5 shipment are being delayed because apple is forcing everyone to use apple maps to deliver them. that's what's going to be happening here. they'll get it together in the though.n it's going to take google's got a big head start. >> i postponed transferring over to the new operating system. >> me, too. >> i haven't bought mine yet. i'm in the clear. i'll get back to hq all by my little self. >>> 35 years after his disappearnce, a lot of folks still want to know apparently where jimmy hoffa's body might be buried. giants stadium, perhaps? a florida swamp? or as new reports indicate under a driveway in suburban detroit. now bob i'm going to start with you. there wer
i earlier said steve jobs would never apologize. in fact steve jobs apologized in the past. five years ago he apologized when he cut the price of the iphone back then $200 after it had only been out a few months. he apologized to the original buyers. apologies from the ceo at apple are not completely unheard of. >> what do you think, rob snert. >> my favorite tweet that's been out there. if you've ordered an iphone 5 shipment are being delayed because apple is forcing everyone to...
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. >> steve, thanks for that. still to come, despite stellar growth, malaysia's leader says the country still hasn't fully tapped its own potential. exclusive interview with the prime minister coming up. >> we are trying to develop the support very strong domestic economy. and the engine will come from the domestic economy. that's why we've done everything possible to encourage it necessary tick i domestic investment. >> also results of the spanish bond auction. julia is in madrid. >> thanks, beccy. expect to go well despite relatively chunky 4 billion euros at the top end. we will bring you all the latest after the break. >>> waiting on spain. ecb expected to hold steady on rates when central bankers meet today. the country's president tells cnbc that europe's policymakers must remain focused. >> about if we get bogged down discussion of what was hent by the june agreements and waste time on this kind of discussion, then it's much less likely that a company here represent system will emerge. >> madrid continues t
. >> steve, thanks for that. still to come, despite stellar growth, malaysia's leader says the country still hasn't fully tapped its own potential. exclusive interview with the prime minister coming up. >> we are trying to develop the support very strong domestic economy. and the engine will come from the domestic economy. that's why we've done everything possible to encourage it necessary tick i domestic investment. >> also results of the spanish bond auction. julia is in...
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steve sedgwick, we have sent him to madrid. it's quieter today, steve, yes? >> this is where all the action was, the neptune fountain where the last couple of nights, especially two nights ago, we saw such hated action with rubber bullets and you can see a little bit of the barricades behind me which are still in place. same people who organized the disputes over the last couple of days, they are potentially having another one on saturday. and so we'll keep coming back until we get what they want. but they're not necessarily going to get what they want because this rajoy government are talking about cutting budgets across the board. ing a fridand the problem with n is not like greece that's the central government that created all the problems. actually it's the people themselves, the developers, the house owners and banks who basicry took on too much leverage and now the central government is being left to try to foot the bill. they're trying to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analy
steve sedgwick, we have sent him to madrid. it's quieter today, steve, yes? >> this is where all the action was, the neptune fountain where the last couple of nights, especially two nights ago, we saw such hated action with rubber bullets and you can see a little bit of the barricades behind me which are still in place. same people who organized the disputes over the last couple of days, they are potentially having another one on saturday. and so we'll keep coming back until we get what...
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with more on what's going on, steve? >> reporter: yeah, very good to see you guys aguy. in five hours' time that's when we're told we'll get this announcement which is the second part of a two-act drama. yesterday we had the first act which was the budget which pretty much ticked all the boxes from a european commission point of view, ie, spain was playing ball with all of the desires to work toward a fiscal compact and to work towards better regulation and better deficit control of the region. and today it's all about the banks, the big audit is expected to show a shortfall of bank funding of somewhere in the region of 62 billion euros. a lot of question marks about whether it's a 62 billion euros or actually under underestimates significantly how much money they need to raise, it's not about the big guys which are deemed to raise money whenever they want, it's about the second tier and third tier banks and we think the likes of bank inter will be at the crux of this. but questions remain whether they'll have to unload assets into a bad bank at a lower level than they'v
with more on what's going on, steve? >> reporter: yeah, very good to see you guys aguy. in five hours' time that's when we're told we'll get this announcement which is the second part of a two-act drama. yesterday we had the first act which was the budget which pretty much ticked all the boxes from a european commission point of view, ie, spain was playing ball with all of the desires to work toward a fiscal compact and to work towards better regulation and better deficit control of the...
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steve jobs would fire tim cook. he would fire everyone involved in maps and he would berate them in front of everyone. he was not a nice man and yet everyone loved him anyway. >> lifelock posted a little below the range. maybe a little disappointment there. i might be able to see that. certainly one that we're going to watch, a big week for ipos, of course, one of the busiest. berry plastics tomorrow and pretty sizeable deals. >> and one of the things that we need to see is some pulse down here. there was a lot of social media, people got gaffed. any time you see new companies, you think, maybe i should stop shorting goldman sachs and maybe there is a sign of capital formation. p excellent show stopper yesterday. and mark cuban was so great and the destruction of the capital markets. cuban, cooperman, these guys are not idle thinkers. they are the best we have. and high frequency trading has destroyed a lot. >> and suggesting you tax intraday trades 50%, trades less than a minute, 100%, that would cut down on it in
steve jobs would fire tim cook. he would fire everyone involved in maps and he would berate them in front of everyone. he was not a nice man and yet everyone loved him anyway. >> lifelock posted a little below the range. maybe a little disappointment there. i might be able to see that. certainly one that we're going to watch, a big week for ipos, of course, one of the busiest. berry plastics tomorrow and pretty sizeable deals. >> and one of the things that we need to see is some...
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zells said is similar to what steve jobs said before passing away. this is a country where it is just too hard to do business in. >> yeah. i was going to say, you're not much of a golfer guy but a tennis guy, right? >> ryder was just a collapse. >> yeah. we let pollster on -- for me it was going to a shrink or something. it was come peopling but my heart was racing, i had butterflies in my stomach and didn't think it could happen. when it did, i felt hollow after it. >> i had a bunch of guys going to the eagles/giants game. you would have thought either of the games would have been talked about. the ryder cup is all i heard about. people felt bad for america. it was a patriotic thing. >> for one eagle moment, i just thought, i don't know, ma lays, i thought, we can't do this right. >> if they come in with cardigan sweaters the next time we see the golfers with the cardigan and have to start talking about turning down the thermostat, it is pool game over. >> all right. jim, thank you. we'll see you in a few minutes. >>> all right. we'll see jim in a f
zells said is similar to what steve jobs said before passing away. this is a country where it is just too hard to do business in. >> yeah. i was going to say, you're not much of a golfer guy but a tennis guy, right? >> ryder was just a collapse. >> yeah. we let pollster on -- for me it was going to a shrink or something. it was come peopling but my heart was racing, i had butterflies in my stomach and didn't think it could happen. when it did, i felt hollow after it. >>...
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>> i do. >> steve see you back in a bit? >> we'll talk about draghi at 8:30 and jobless claims. >>> right now breaking news, julia boorstin has more on what's happening with facebook. >> that's right, the facebook announcing it has 1 billion monthly active users and 600 million mobile users, mark zuckerberg saying, making this announcement saying "i'm committed to working each day to make facebook better for you and hopefully one day we'll be able to connect the rest of the world." this is a major milestone for the company. facebook hit 500 million active users, doubling its size in two years. mark zuckerberg taped an interview with matt lauer airing exclusively on the "today" show shortly, that sitdown his first since the ipo coming up later this afternoon. >> yesterday afternoon i saw a headline, facebook is going to charge you $7 if you want to send posts, headlines to your friends. sounded crazy. >> facebook is testing all sorts of different ad models and facebook gives you the option of paying to promote your post to yo
>> i do. >> steve see you back in a bit? >> we'll talk about draghi at 8:30 and jobless claims. >>> right now breaking news, julia boorstin has more on what's happening with facebook. >> that's right, the facebook announcing it has 1 billion monthly active users and 600 million mobile users, mark zuckerberg saying, making this announcement saying "i'm committed to working each day to make facebook better for you and hopefully one day we'll be able to...
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caruso-cabrera will talk about some of the bad pigs in a minute, but first senior economics reporter steve liesman with the story of some vindicated doves. >> because the new game is called "bad piggies." that's where we're coming from. >> and we're only doing this because the producer jason gawertz made us do this. he said could we think of an app that would apply with today's data and i did. it's called vindicated doves. at least initially here, why is that? because essentially the economic data came in weak. let me show you what the economic data showed. the numbers come in you're looking for 5.6% positive -- or negative. you get minus 13.2 off a prior 3.27%. i think the dove says i don't care i had this one right. gdp took .4 off the prior print right there. midwest manufacturing down negative. p and pending home sales much changed from the prior month from positive to negative. take a look at some of the comments here. vindicated doves. anyone facing doubt about the need forred 23ed's recent stimulus must surely be silenced by the surprising weakness of the data coming out of the u.s.
caruso-cabrera will talk about some of the bad pigs in a minute, but first senior economics reporter steve liesman with the story of some vindicated doves. >> because the new game is called "bad piggies." that's where we're coming from. >> and we're only doing this because the producer jason gawertz made us do this. he said could we think of an app that would apply with today's data and i did. it's called vindicated doves. at least initially here, why is that? because...
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. >> steve liesman has an interview with chicago fed president charlie evans on "squawk box." whether comments from fed officials be able to swing things around bearing in mind we've basically committed now every month to spending whatever it takes? >> no, i think they're committed. we want to hear essentially getting to congress a message that says our job is done. it's now up to you to make sure that fiscal policy sets a growth agenda that makes sense. that's what's missing in this equation. >> jack, good to see you. thanks for that. if you see any slightly bruised and feeling worse for themselves european golf fans, just point them to bed or something. we'd appreciate that. thanks for that, jack. good to see you. that's it, we'll leave and you look at u.s. futures. coming up next, "squawk box." we hope you have a profitable day. #. >>> welcome to the first day of the fourth quarter. factory data out of europe, what are calling an inevitable new recession. in the u.s., investors are preparing for friday's jobs report and barack obama and mitt romney are hunkering down for de
. >> steve liesman has an interview with chicago fed president charlie evans on "squawk box." whether comments from fed officials be able to swing things around bearing in mind we've basically committed now every month to spending whatever it takes? >> no, i think they're committed. we want to hear essentially getting to congress a message that says our job is done. it's now up to you to make sure that fiscal policy sets a growth agenda that makes sense. that's what's...
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steve jobs, he's gone, it doesn't matter, stick with hewlett! >> listen, we ship two pcs every second. this is an enormous business. we're seeing growth in a lot of areas. we have an entirely new design lineup. we have put real emphasis on design. and this is something hp does quite well. we have terrific product engineering. now married with a design organization. i think we've got a really good shot here, and we've gotten great response to these devices. you know, listen. we are one competitive company. we now have a sharp competitive focus. we know what we have to do to compete. and we're going to do it. i wouldn't bet against us. i wouldn't bet against the technology that this company has in the pipeline and our commitment to delivering great products and to meeting customer needs. one thing i'll tell you about hp. through all the change at the top, through all the craziness, our people have delivered for customers. we will do anything for customers. and i think that's a great strength of the company that we're going to build on. >> meg, you
steve jobs, he's gone, it doesn't matter, stick with hewlett! >> listen, we ship two pcs every second. this is an enormous business. we're seeing growth in a lot of areas. we have an entirely new design lineup. we have put real emphasis on design. and this is something hp does quite well. we have terrific product engineering. now married with a design organization. i think we've got a really good shot here, and we've gotten great response to these devices. you know, listen. we are one...